Item│ 1Q25 Forecast (RMB)│YoY Change│ QoQ Change Total revenue│85.36 billion│+16.5%│-3.5%-Core local commercial revenue│63.668 billion│+16.6%│-2.9%-->Delivery business revenue│41.065 billion│+12.8%│-3.3%-->Meituan Shangou revenue│7.027 billion│+28.3%│-8.8%-->In-store, hotel and travel business revenue│15.576 billion│+22.3%│-1.3%->New business revenue│21.692 billion│+16.3%│-5.4%-------------------------------------------------------------- Adjusted EBIT│10.022 billion│+44.4%│-6.5%-Core local business adjusted EBIT│12.372 billion│+27.6%│-4.1%-New Business adjusted EBIT│ Loss of 2.35 billion│-│- Profit│7.926 billion│+47.6%│+27.4% Non-IFRS adjusted net profit│9.932 billion│+32.6%│+0.9% Adjusted net profit margin│11.6%│+1.4 ppts│+0.5 pptsRelated NewsCLSA Chops MEITUAN-W (03690.HK) TP to $195, Keeps Rating at Overweight